You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

This loan does not pay any interest to the lender.

The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.

100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.

The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.

The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.

More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.

The MFI

Fondesurco

History

Fondesurco, an NGO, was established fifteen years ago following a pilot microcredit program initiated by a set of four NGOs operating in the southern region of the country. The project began with group loans that followed the Grameen Bank methodology.

The MFI has developed the majority of its business in the province of Arequipa, supporting agricultural activities in the Andean highlands, and is trying to deepen its presence in this region by offering services to the most remote villages.

What is Microfinance

The transfer and hosting of funds on MicroWorld are made via the payment service solution MANGOPAY, edited by the company Leetchi Corp SA, as approved issuer of electronic money authorized by the CSSF.

MicroWorld edited by ABC Microfinance is registered as Intermediary in Crowdfunding to ORIAS under the n°17005376.